LAGOS COURT JAILS NOGASA CHAIR, FATUYI PHILLIPS 21 YEARS FOR N43. 5M FRAUD. (PHOTO). #PRESS RELEASE

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 Lagos Court Jails NOGASA Chair, Fatuyi Phillips 21 Years  for N43.5m Fraud    Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, November 18, 2024, convicted and sentenced Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, to 21 years imprisonment for N43.5m fraud.   The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on April 5, 2022, arraigned Philips alongside his firm, Oceanview Oil and Gas Limited, on a two-count charge bordering on obtaining money by false pretence to the tune of N43, 502,000.00   Count one reads: "Fatuyi Yemi Philips and Oceanview Oil and Gas Nigeria Limited, on or about the 28th day of September, 2016 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, obtained the aggregate sum of N43, 502,000.00 from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited under the false rep
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OBASANJO ADVISED FEDERAL GOVERNMENT TODAY,NOT TO REVIVE NIGERIAN NATIONAL SHIPPING LINE.

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                        Ex-President Olusegun Obasanjo today monday gave the advice in Lagos in his address as Chairman of a two-day stakeholder's conference on the maritime industry.The formal president blamed the demise of the Nigerian National Shipping Line {NNSL}.H said ''NNSL had been liquidated,they tried Nigeria Unity Line,it collapsed.Nineteen brand new ships were specially built for Nigeria,e did not take delivery of some of them until i left office in 1979.When i came back in 1999,NNSL had been liquidated with all the 19 ships gone as well as the five ships in existence.two of the ships were missing for almost two years and it was discovered that one military man was using them all over the world and no accountability''.The former president urged the present administration to ''think out of the box and come up with what should be done to grow the maritime industry.Until NIMASA became a source of where people steal money,nobody knew too much about it.Before we tried to privatise Nigerian Ports Authority,I went to Singapore where you get your container within one hour of arriving the port.If we cannot perform like Singapore,we have to do better than what we are doing now''.One more photo below.                                                                                                        

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